The industries of the developed nations as well as of those which are already developing, India being one of them; are not only dependent on the energy and efficiency that drives those industries to perform.
The prime objective that binds all these organizations as well as industries is the financial bottom line. Their utmost priority is to augment the economic growth of their entity in the particular sector they are employed in.
This can be done in a lot of ways but the major ones can be enumerated as :
- Increasing productivity amongst employees
- Usage of modern machinery that are relevant in the field and substituting less specialized workforce with them
- Cutting down additional costs by deploying sustainable methods
The Indian scenario :
India is a nation that is currently blessed with having a portal of time till the 2040s which is known as the Demographic Dividend of the country. This portal could cause significant development and considerable advancement in the sector of the nation’s economic expansion.
A Demographic Dividend is a particular time span in which the percentage of the youth and the employed youth population of a country increases drastically. These people invest, save and utilize their emoluments to invest in the future of the country. This takes the country forward in terms of economic escalation.
This is true for every country and the ones having the maximum youth population would benefit greatly from this. But China, being the largest nation in terms of population is showing the trends of an aged population overall. This is a huge window of opportunity for Indian youth.
Problems faced in realizing the true potential of the youth :
Though India as also other emerging nations of the world have a vast reserve of the youth population; from a practical point of view, it is hardly serving any purpose.
- A vast majority of the youth lack proper technical or vocational training that is required to serve their suitable roles in whichever industry they are employed in.
- The education system that imparts the youth with a pertinent system of education is flawed at parts as there is a scope of more theoretical knowledge rather than hands-on practical knowledge. The practical knowledge is essential to maintain their performance in the industrial field.
- There is a major gap situated thereby, between the skills that a youth requires to hone or possess to function seamlessly in the industrial sector and the actual skill and education that the youths possess. The ultimate priority is to bridge this skill gap and hence make the youths more adaptable to the current industrial demands as well as the industrial practices in use.
Therefore, the different ways to efficiently increase industrial productivity are :
- Training the section of the youth in the desired fields of education as well as provide them hands-on knowledge to develop their skills and make them adept.
- This would definitely help them to function seamlessly in the industrial sector, thus reducing the huge number of skilled workforce and replacing them with their own number of specialized workforce that abounds in the corresponding skills.
- Giving the youth section a proper chance at functioning in the industrial sectors, where they have aspired to be and make their individual mark there.
These might be summarized as the different ways in which the industrial productivity can be augmented by using the power of the youth as well as their skill development programs.